7
Oct
2021
MNB Precision launches MNB Precision International at DMCC as first phase of international business expansion
Coventry-based MNB Precision has completed the first phase of its international business expansion strategic plan with the establishment of MNB Precision International at the DMCC free zone in Dubai in the UAE. Led by Luke and Elliot Benton, the third generation of the Benton family to own and manage the business, the new DMCC company will be the corporate shareholder in the new joint venture company being established in Abu Dhabi with Sigma Engineering. It will also serve as the international trading wing of Riverside Precision Materials division, MNB’s materials procurement business.
The Benton brothers will be supported in the Middle East venture by Ken Burnett, Mazen Salloum and Steven Young who will all play key roles going forwards.
DMCC companies offer a number of significant advantages for international business expansion with an energy sector cluster including 100% foreign ownership, limited liability ring-fencing of assets and investments, a solid regulatory regime and a benign taxation environment.
MNB Precision has joined an increasing number of HFI clients who are using our DMCC Plus+ Corporate & Compliance Solutions service, whether in connection with regional holding companies, special purpose project vehicles, intellectual property assets companies, international payroll companies and other ring-fenced asset-holding structures.